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Apple Returns to the Black
While Its Stock Soars 19%

By

Jim Carlton Staff Reporter of The Wall Street Journal

Updated Jan. 7, 1998 12:01 a.m. ET

SAN FRANCISCO -- Apple Computer Inc., in a much-needed dose of positive news, estimated that it returned to profitability in the just-completed quarter as strong new products and cost-cutting contributed to net income "exceeding" $45 million.

The surprise profit projection for the fiscal first quarter ended Dec. 26 came in a theatrical conclusion to a keynote speech by Steve Jobs, Apple's cofounder and interim chief...